On August $1,2022,$ Colombo Company's treasurer signed a note promising to pay $$123,000$ on December $31,2022.$ The proceeds of the note were $$114,900.$

c$.1.$ Use the horizontal model to show the effects of signing the note and the receipt of the cash proceeds on August $1,2022.$ Indicate the financial statement effect.

$2.$ Use the horizontal model to show the effects of recording interest expense for the month of September. Indicate the financial statement effect.

$3.$ Use the horizontal model to show the effects of repaying the note on December $31,2022.$ Indicate the financial statement effect.

Complete this question by entering your answers in the tabs below.

Required C$1$

Use the horizontal model to show the effects of repaying the note on December $31,2022.$ Indicate the financial statement effect.

Note: Enter decreases with a minus sign to indicate a negative financial statement effect.

$\backslash$table$[[,,$Balance $s,,,,,,$Income Statement$],[$Assets$,=,,+,$Stockholders' Equity,$4,$Net income,$=,$Revenues,$-,$Exp$],[$Cash$,123,000,=$ Notes payable,$123,000,+,,$dots,,$=1,7,4,]]$